Society has come a long way since the days of barter to the era of coins followed by paper currencies, and now banks and governments around the world stand ready to take the next step: eliminating cash altogether. People increasingly rely upon direct deposit of wages, credit cards and now electronic payment services offered by such companies as Google and Apple, but could the cash point machine and cash itself disappear altogether in the coming years?
Imagine a world in which you cannot hold a one dollar bill in your hand and may only send or receive money with permission of a bank. The reasons often given to eliminate cash are to disrupt criminal transactions, cut off funding to terrorism, stop tax evasion and of course, to save on the costs to banks and governments. READ MORE